Donald Trump's Crypto Portfolio: Memecoins Account for 70% of the $7.85M Raised

Donald Trump has amassed nearly $8 million in crypto donations since the start of his election campaign. A new filing by a political action committee

Donald Trump has received nearly $8 million in crypto donations since launching his election campaign, according to a new filing by a political action committee (PAC) supporting the former President.

The filing sheds light on Trump’s campaign’s unorthodox financial backing, revealing a trove of multiple crypto assets in donations, including memecoins.

Trump's Crypto Portfolio Comprises 70% Memecoins

The former President's crypto portfolio comprises a diverse range of digital assets, including Ethereum (ETH), Ripple (XRP), USD Coin (USDC) stablecoins, and several memecoins.

The Oct. 15 PAC filing showed that memecoins account for over 70% of all donations.

According to the filing, Trump’s campaign raised $7.85 million in crypto donations between July 1 and Sept. 30.

Data from Arkham Intelligence, which tracks Trump’s crypto donations, showed that the portfolio’s assets do not include Bitcoin, despite the former President wanting to use it to pay off the national debt.

Trump's own memecoin, aptly named TRUMP coin, holds the top spot, valued at $3 million, roughly 37% of his entire portfolio.

Ethereum (ETH) is the next largest holding, with 494 ETH worth $1.30 million, closely followed by an almost equal amount of wrapped Ether (WETH) worth $1.26 million.

Rounding out Trump’s portfolio are several other memecoins, including TROG worth $1.7 million, GUA worth $493,000, FIGHT worth $140,000, and CONAN worth $59,000. In addition, the former President's portfolio holds $137,000 in USDC stablecoins.

While the overall token count remained largely unchanged, the portfolio's weightage had significantly surged from last month.

Several memecoins, particularly the TRUMP coin, experienced significant price gains, including a 300% surge for the TRUMP coin.

Trump-Backed DeFi Project Stumbles, Raising Only 4% of $300 Million Goal

Apart from his vocal support for the crypto industry and acceptance of crypto donations, Trump has taken a more personal stake in the market with a venture of his own.

The former President recently endorsed his sons’ decentralized finance (DeFi) project, World Liberty Financial (WLF).

The project aimed to raise $300 million at a $1.5 billion valuation by selling the WLFI governance token to the public.

However, it fell short, raising only $12 million, or 4% of its target, on its launch day.

According to EtherScan data, only 2,900 investors purchased the token, with 344 million WLFI tokens sold to about 3,000 distinct wallets.

At the time of writing, there were over 12,000 token holders.

The project's struggle to gain traction may be partly attributed to the non-transferability of WLFI tokens, a limitation that could have deterred investors looking to capitalize on price volatility.

Critics have also highlighted a lack of transparency and key details in the project, sparking controversy within the crypto community.